GameStop shares surge more than 100%

New York (CNN Business) GameStop shares climbed rapidly and were halted twice for volatility ahead of the closing bell Wednesday. The gaming retailer's stock was priced at $91.71 at market close, up nearly 104% from the previous day.

Shares were halted once around 3:40pm ET after climbing nearly 74%, and again just over 10 minutes later after gaining 104%. GameStop's trading volume was roughly three times higher the five-day average for the stock, according to data provider Refinitiv.

Less than an hour after the closing bell, the stock was on the move again — gaining nearly 90% in after-hours trading.

GameStop GME Having déjà vu yet? The surge comes about a month after a wild trading frenzy caused its stock to jump around 1,600% in a matter of days, though it quickly fell from highs around $350. The late January surge was fueled by individual retail investors, many from the Reddit page WallStreetBets , some of whom believed the GameStop was undervalued and others who wanted to squeeze hedge funds that had shorted the stock.

The jump in GameStop also comes a day after the company announced its chief financial officer would resign next month to help "accelerate GameStop's transformation," which could fuel investors who believe in the long-term value of the retailer and its ability to shift from relying on physical stores to an e-commerce sales model.